Megatrends

The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.

New Home and Garden Research: What is it Telling Us?

The new and enhanced 2013 Home and Garden edition is now live. The updated research provides the latest insight on how the home and garden industry performed in 2012 and identifies the key prospects through to 2017. Continued global economic uncertainty took its toll as the industry posted another year of weak growth, especially in European markets. Overall market value sales grew by 2% in 2012 in constant exchange rate terms. While emerging economies maintained their solid performances, Western Europe posted negative growth due to poor performances in several EuroZone markets. The BRIC countries continued to report strong growth but only Russia registered a stronger performance than the previous year. A cooling economic environment and more conservative consumption were the main reasons behind slow growth.

Home Improvement resists the challenge

Each of the four major categories upped their growth on the previous year, with Home Improvement achieving the strongest gain. Difficult access to credit in developed countries meant more people decided to renovate their houses rather than move to a new one. In developing economies, higher disposable incomes are boosting consumption of non-essential items such as home and garden products.

The future remains lacklustre

The market’s future prospects will continue to be impacted by anaemic growth in Western Europe through to 2017, dragged down by the EuroZone. The highest incremental revenues should come from Asia Pacific on the back of solid increases in China and Indonesia (forecast to bring in close to US$15 billion each by 2017). The US, the largest market by far and which accounts for almost a third of total value sales, will continue its recovery over the next five years.